Laxmi Organic IPO Basis of Allotment

This is a public announcement for information purposes only and is not a prospectus announcement. This does not constitute an invitation or offer to acquire, purchase or subscribe for securities. Not for release, publication or distribution, directly or indirectly, outside India

Our Company was incorporated as 'laxmi Organic Industries Limited' at Mumbai, Maharashtra as a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated May 15, 1989 issued by the Registrar of Companies, Maharashtra at Mumbai. Our Company received a certificate for commencement of business on December 20, 1989 pursuant to the provisions of the Companies Act 1956. For further details relating to the changes in the registered office of our Company, see "History and Certain Corporate Matters" on page 187 of the Prospectus dated March 18, 2021 ("Prospectus").

Our Company has filed the Prospectus dated March 18, 2021 with the RoC, and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE") and trading is to commence on or about Thursday, March 25, 2021.

INITIAL PUBLIC OFFERING OF 46,153,846 EQUITY SHARES OF FACE VALUE OF RS. 2 EACH ("EQUITY SHARES") OF LAXMI ORGANIC INDUSTRIES LIMITED ("OUR COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 130.00 PER EQUITY SHARE (INCLUDING A PREMIUM OF RS. 128.00 PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING TO RS. 6,000.00 MILLION* ("OFFER"). THE OFFER COMPRISES OF A FRESH ISSUE OF 23,076,923 EQUITY SHARES AGGREGATING TO RS. 3,000.00 MILLION* ("FRESH ISSUE") AND AN OFFER FOR SALE OF 23,076,923 EQUITY SHARES AGGREGATING TO T 3,000.00 MILLION BY YELLOW STONE TRUST ("PROMOTER SELLING SHAREHOLDER"). (THE "OFFER FOR SALE", AND TOGETHER WITH THE FRESH ISSUE, THE "OFFER"). THE OFFER WILL CONSTITUTE 17.50% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL.

*OUR COMPANY HAS, IN CONSULTATION WITH THE BRLMs, UNDERTAKEN A PRIVATE PLACEMENT OF 15,503,875 EQUITY SHARES AGGREGATING TO RS. 2,000.00 MILLION ("PRE-IPO PLACEMENT"). THE SIZE OF THE FRESH ISSUE OF EQUITY SHARES AGGREGATING UP TO RS. 5,000.00 MILLION HAS BEEN REDUCED BY RS. 2,000.00 MILLION PURSUANT TO THE PRE-IPO PLACEMENT AND ACCORDINGLY, THE FRESH ISSUE COMPRISES OF 23,076,923 EQUITY SHARES AGGREGATING TO RS. 3,000.00 MILLION AND CONSEQUENTLY THE OFFER SIZE WAS REDUCED FROM UP TO l 8,000.00 MILLION TO 16,000.00 MILLION.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 2 EACH.

The Offer was made in terms of Rule 19(2) (b) of the Secures Contracts (Regulation) Rules 1957, as amended ('SCRR') read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the SEBIICDR Regulations). The Offer was made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 5014 of the Offer was available for allocation on a proportionate basis to Qualified institutional Buyers ('QIBs') (the 'QIB Portion'), provided that our Company and the Promoter Selling Shareholder in consultation with the BRLMs allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor investor Allocation Price. 5% of the Net QIB Portion was available for allocation on a proportionate basis to Mutual Funds only and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer was available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Offer was available for a location to Retail Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All Bidders, other than Anchor Investors, were mandatority required to participate in the Offer through the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA Account, which was blocked by the Self Certified Syndicate Banks (SCSBs) Anchor Investors were not permitted to participate in the Anchor investor Portion through the ASBA process. For details, see "Offer Procedure" beginning on page 367 of the Prospectus.

The bidding for Anchor Investors opened and closed on March 12, 2021. The Company received 24 Anchor Investor Application Forms from 16 Anchor Investors (including 5 mutual fund through 13 Mutual Fund Schemes) for 15,384,700 Equity Shares The Anchor investor Offer Price was finalised at Rs. 130 per Equity Share. A total of 13,846,153 shares were allocated under the Anchor Investor Portion aggregating to Rs. 1,799,999,890.00.

The Offer (excluding Anchor Investor Portion) received 2,141,497 applications for 3,445,320,535 Equity Shares (prior to technical rejections and after re-categorization) resulting in 106.6409 times subscription as disclosed in Prospectus. The details of the applications received in the Offer from Retail Individual Investors, Non-Institutional investors and QIBs are as under (before technical rejections and after re-categorization).

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Offer Closing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on March 22, 2021.

A. Allotment to Retail Individual Investors (After Technical Rejections, multiple or duplicate Bids and Bids not banked/returned)

The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Offer Price of Rs. 130 per Equity, was finalized in consultation with NSE. This category has been subscribed to the extent of 18.0324 times. The total number of Equity Shares Allotted in Retail Individual Investors category is 16,153,847 Equity Shares to 140.468 successful applicants. The category-wise details of the Basis of Allotment are as under:

B. Allotment to Non Institutional Investors (After Technical Rejections, multiple or duplicate Bids and Bids not banked/returned)

The Basis of Allotment to the Non-Institutional Investors, who have bid at the Offer Price of Rs. 130 per Equity Share was finalized in consultation with NSE. This category has been subscribed to the extent of 217.7871 times. The total number of Equity Shares allotted m this category is 6,923,077 Equity Shares to 1,659 successful Non-Institutional Bidder. The category-wise details of the Basis of Allotment are as under. (Sample)

C. Allotment to QIBs (excluding Anchor Investors) (After Technical Rejections, multiple or duplicate Bids and Bids not banked/returned)

Allotment to 01 Bs, who have bid at the Offer Price of Rs. 130 per Equity Share has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 76:7345 limes of Net QIB Portion. As per the SEBI Regulations, Mutual Funds were Allotted 5% of the Equity Shares of Net QIB portion available i.e. 461,539 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 8,769,230 Equity Shares or, a proportionate basis. The total number of Equity Shares allotted in the QIB Portion is 9,230,769 Equity Shares, which were allotted to 152 successful Applicants. The category-wise details of the Basis of Allotment are asunder:

D. Allotment to Anchor Investors

The Company and Promoter Selling Shareholder, in consultation with the BRLMs, have allocated 13,846,153 Equity Shares to 15 Anchor Investors (through 23 Applications) at the Anchor Investor Otter Price of Rs. 130 per Equity Share in accordance with the SEBI ICDR Regulations. This represents 60% of the QIB Portion.

The IPO Committee of our Company at its meeting held on March 23, 2021 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has Allotted the Equity Shares to various successful applicants. The Allotment Advice-cum refund intimation are being emailed to the email id or dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on March 22, 2021 and payment to non-Syndicate brokers have been issued on March 23, 2021. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on March 23, 2021 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the listing and trading application with NSE and BSE on March 23, 2021 and the listing and trading of the Equity Shares is to commence on March 25, 2021.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

INVESTORS PLEASE NOTE

These details of the Allotment made have been hosted on the website of Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in

All future correspondence In this regard may kindly be addressed to the Registrar to the Offer quoting lull name of the First/Sole applicant, Bid cum Application Form number, number of Equity Shares bid for, name of the Member of the Syndicate, Bidder DP ID, Client ID, PAN, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF LAX Ml ORGANIC INDUSTRIES LIMITED.

LAXMI ORGANIC INDUSTRIES LIMITED has filed the Prospectus with SEBI, the RoC and the Stock Exchanges. The Prospectus is available on the website of Securities and Exchange Board of India at www.sebi.gov.in, on the websites of the Stock Exchanges at www.bseindia.com and www.nseindia.com as well as on the websites of the BRLMs, Axis Capital United at www.axiscapital.co.in and DAM Capital Advisors Limited (Formerly known as IDFC Securities Limited) at www.damcapital.in , respectively. Investors should note that investment m equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the Prospectus. Investors should not rely on the DRHP filed with SEBI for making any investment decision.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws in the United Stales, and unless so registered, may not be offered or sold within the United Slates except pursuant to an exemption from, or in a transaction not subject to. the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S and applicable laws of the jurisdictions where such offers and sales are made. There will be no public offering in the United States.